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john boehner because this is all about the president and john boehner's relationship. john boehner now, when he walks back to hc-5 and he has that meeting with a republican caucus that he's having to drag to the table to bring -- generate new revenue. he now goes back, and boehner faces a very angry caucus. tom cole came out and said, hey, let's go ahead and raise taxes. that was remarkable. eric cantor on this show said, we have to raise additional revenue. republicans have stepped forward and said that. if i were a sitting member of congress right now, a guy on this show who has said for years we have to make a deal, my response to john boehner would be very simple. just stop talking to him. don't talk to them until they make a serious offer. just don't. because this is, after all, a party that's been running the u.s. senate for years, and they've never produced a budget. if they want to offer us something serious, great. if not, well, we'll just sit back and wait. really, i've got to say, i'm really stunned by what happened yesterday, mark. tell us why it happened the way it did. >>
around today. right around 11:30 a.m., speaker john maye -- john boehner spoke. the buyers poured in, the short time later chuck schumer came in. now we are trading near the highs of the day. the dow jones dust they stop 77 points, 45 to the upside. all 10 s. and p. sectors are jumping with technologies leading the way. research in motion a big winner. can you believe the stock is near $12 per share. rim was at $6 per share, but positive comments out of goldman sachs fueling the game. apple in the green continuing the postelection resurgence. apple was in bear market correction level just a few weeks ago, but right now jumping about 1%. disappointing november sales numbers. costs dropping 6%, tiffany got a markdown, earnings missed street estimates. and then there is aeropostale coming in way below forecasts. what is a trader to do beside watching a nuisance headlines coming out of washington? traders at the new york stock exchange, what a day today. some better games at the moment but again a perfect example of how washington is holding the market. >> you talk about how sensitive th
. >> to that point here's john boehner talking about when he saw that opening offer. >> i was flabbergasted. i looked at him and said you can't be serious. i just never seen anything like it. you know, we got seven weeks between election day and the end the year. and three of those weeks have been wasted with this nonsense. >> okay. >> it's clear he's not pleased from his ha. is the president in danger of going too far? >> no. i think that everyone is amazed that president obama is pursuing an absolutely normal approach to negotiation. people over the last two years got so accustomed to his strategy of almost preemptive concession, you know, you don't like this, i'll give you more. i'll give you more. what obama did is say look here's what i want. this will solve the problem in my view and by the way we still don't have a recovery that's going quickly enough, we still need to goose the economy some. and the republicans are flabbergasted that he's not already making concessions and all he's asking for is okay guys, you say we don't have to raise the top rate, show me how you're going to do it with all
in turmoil and second recession coming. number two, john boehner, the speaker is claiming he's met obama's demand for higher taxes for the rich. that's good. he agreed in principle the rich must pay more. number three, there's talk for the republican leaders that they could vote to continue the tax cuts for the 98% now and therefore avoid the fiscal cliff and put off for now the top 2%. and the question then, let the debt ceiling not take effect. a tax cut delayed i argue is a tax cut avoided. joining me with the republican defense highly tauted fan of the eagles, ed rendell and alex wagner of msnbc's "now." governor, i want you to read what's going on here. first speaker boehner defended the gop's tax proposal saying it does take a bite out of the rich but president obama held firm to tax rate hike on the wealthiest. let's listen to the back and forth. >> revenues we're putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates,
speaker john boehner dealing with division in the gop's ranks to his budget plan. we've got a shanghai surprise. china's mainland markets up over nearly 3% after beijing's new leaders called for economic stability and new business growth. and it looks like more austerity for britain. george osborne getting ready to release his autumn statement. >>> nokia shares a little bit high today. they are teaming up with china mobile, giving access to the world's biggest mobile phone markets. >>> if you just got up, very warm welcome to the start of your global trading day. stocks are on the front foot this morning. this is where we stand with u.s. futures. currently called up around about 30 points higher. the dow down, what, 13 points? the nasdaq called up just under 40 points. the s&p 500 at the moment is called up just over three points. it was down two points yesterday. european stocks doing a little built better. they were as flat as a pancake, as i've been saying. as flat as my pancakes. we have just come down from higher levels. the ibex up .2 of a percent. overnight we saw china leadersh
irresponsible. for all this and more joining us now is katie pavlich. what speaker john boehner has always said, a dollar tax increase, a dollar spending cuts. >> president obama who jay carney represents during his daily press briefings at the white house wants an unlimited debt limit. he wants no debt ceiling on the amount of money that he can spend. so jay carney is taking shots at john boehner who has said look it's not a serious discussion about how we're going to solve the fiscal problem unless of course we match spending cuts to the number of dollars we increase in the debt limit. >> do you think that could pass congress in all seriousness? no more debt limit? no more power of the purse strings? >> no. >> that's insane. i think it's in the constitution. >> yes. and although president obama this because he got re-elected has he had has a mandate to do whatever he waumpbts, he forgets that the house republicans were also re-elected to kind of hold the line on spending. so no, i don't believe that would make it through congress. >> what about this utterance by the president today? instead o
. john boehner gained strong backing of the house gop. they actually say that the speaker's more powerful today than he has been since he became speaker two years ago. >> well, that's exactly the opposite of what we were discussing on the set yesterday with matt lewis. >> yeah. i guess one question is, is that story there for a purpose, which is to make him appear stronger, and also, is he strong in relation to the offer that's on the table, which is an offer that does not reflect compromise yet? >> well, he is strong, i think, as long as he's not seen as bowing down and caving in to the president. i will tell you, there are conservatives dair a s -- erick who is trying to get him removed as speaker, saying they only need 16 votes to drive john boehner out of time. >> that's kind of my point. >> a situation described as very fluid. >> how many degrees of freedom does he have from where he is now and who's holding the pen when they sign those letters? >> yeah, i don't think he's got a lot of freedom. harold, what do you think? >> i hope he stays strong for the simple reason that if and whe
. at least for today. progress getting a fever pitch as john boehner says white house needs to get serious. senate majority leader harry reid says he is waiting for a serious offer from republicans. so there you can see the stock market slightly higher, reacting to every last word coming out of capitol hill. now the dow was higher, but off of the best levels of the session as we make progress. melissa arizona is the latest state to refuse the exchange. we will bring on judge andrew napolitano to talk about this one. lori: "time" magazine announcing it candidate for person of the year. wait until you hear who the candidates are. we will handicap the list with lou dobbs. melissa stocks as we do every 15 minutes. nicole petallides standing by. stocks are losing sseam as house speaker john boehner took the podium although they have recovered a bit. nicole: is difficult to monitor which way and guess which way the market will go as each headline process crosses, we'reg the market being started around the unchanged line. and then you have people saying how the white house has had a change of tun
between speaker john boehner and president obama today. with just 25 days to go, let's keep tabs on where we stand. reports of a conservative backlash against speaker boehner simply not true. he has the solid support of his leadership and the rank and file. but there is concern among some in the gop that they are at risk of becoming the party for rich people while president obama and democrats stake their claim on the middle class. and my tax rate flexibility with higher -- here's what the president said earlier today. >> i'm not going to sign any package that somehow prevent prevents the top rate from going up for folks at the top 2%. but i do remain optimistic that we can get something done that is good for families like this one and that is good for the american economy. >> we look back republican senator rand paul from the state of kentucky. senator paul, welcome, as always. i want to ask you about the fiscal cliff, the state of play. there's revenues on the table. there's tax rate increases on the table. i don't know if there's spending on the table. what's your thinking prigt now? >
, no one's going to remember john boehner's name, no one's going to remember harry reid's name, no one's going to believe 20 seconds from now that john boehner and harry reid were the architects of any deal or any failure. when does the president realize that he is sitting in the chair of thomas jefferson, of abraham lincoln, of woodrow wilson, t.r., fdr, jfk, ronald reagan. when does he realize that and step up and start doing what abraham lincoln did? >> yeah. >> and buy them off, charm them off, beat them up. >> build a bridge to nowhere. >> build a bridge. when is he going to do that? >> you know, what puzzles me about this is that he knows all that lincoln history. he didn't need to go to the movie to learn that's how lincoln operated. >> and he loved to cast himself as a new lincoln. but his inability to work with democrats and republicans -- listen friends at home watching, not just republicans, democrats and republicans, you have to go back to jimmy carter to find a president that was viewed with as much suspicion by his own party on the hill. >> his own party. >> -- as barack
geithner did little to change the mood on capitol hill. >> reporter: house speaker john boehner emerged from his sit- down with the president's negotiating team to declare he was disappointed. two weeks after the election, the speaker said democrats have yet to show what he called "adult leadership." >> right now, all eyes are on the white house. the country doesn't need a victory lap, it needs leadership. it's time for the president and congressional democrats to tell the american people what spending cuts they are really willing to make. >> reporter: that's not how the white house sees it. the administration called the republican position that tax rates should not change implausible after the election. and the white house warned republicans against using the debt limit as leverage to force agreement. >> asking for... that a political price be paid in order for congress to do its job, to ensure that the united states of america pays its bills and does not default for the first time in its history, is deeply irresponsible. >> reporter: at least talks are going on. the speaker and the pr
barack obama get the nancy pelosis of his party? how does john boehner get the joe scarboroughs of his party to move from these positions that they have held for 20 years? to make a deal? this is a brave new world. i mean, it's hard for me to actually envision, as we get closer to it, that there are actually going to be republicans in the house of representatives that are going to have to run for re-election, saying something they haven't had to say for a generation. i voted to raise taxes, and here's why. how do they do it? >> i don't know how they do it, to be quite honest. i'll tell you what the nub of the problem is, and it goes to what we talked about a little bit earlier. you have the president saying, i want tax rates to go up now on the promise that a future congress is going to cut the spending that you want done 20 years from now. and that's just a bargain that's hard for a lot of fiscal conservatives to swallow because that has been, as you know, joe, going back to certainly your time in congress, the deal that's always been bargained that's never been fulfilled. and so i do
to negotiate with somebody that you like. >> i think the president should play more golf with john boehner. he never played one game with him, if that. let's turn to more cherry matters. the rfk center, raising money to help people around the world. tell me about it. >> first of all, i'm bidding on you. >> i'm one of the prizes. >> you are a prize. >> you can go to www.charitybuzz.com search piers. and the current bid is $70 million, to bring four people to that studio for the cnn experience. >> you have competition against a lot of people. anderson cooper is up there, too. >> is he beating me? i will not be happy if he beats me. if you are watching, get on the website and bid higher. i'll give you a cup of tea, whatever you like. and there's a meet and photo with president bill clinton. a signed guitar from taylor swift. >> and how about this, fly fishing with paul volcker. if you can do that, you can buy the other auction items. >> charitybuzz.com. i've got to beat anderson cooper. finally, let's come to the car accident you had. >> yes. >> a strange case, where you had taken an ambien sleep
the fiscal cliff crisis. they will also meet with john boehner. boehner counter proposal yesterday. $600 billion in cuts in entitlement and $250 billion in changes in way the government changes inflation that would impact social security. let me bring in the national journal from the editor. good morning. i want to talk to you about this republican proposal saying republicans in congress want to get serious about asking the wealthiest to pay slightly higher tax rates. we won't be able to achieve a significant balanced approach to the deficit. it does have some revenue in it, even though it's not from tax increases. so what does this opening offer say about where we are in these negotiations? >> well, it seems very difficult to imagine that we're going to be getting to a deal that will handle everything that needs to be addressed before the end of the year. i think the first main thing that needs to be addressed is the question of the tax cuts expiring. and for the obama administration, the question is, is it in their interest to trade tax cuts for the wealthy? increase for the wealthy fo
in the phone call between speaker of the house john boehner and president of the united states, barack obama. did they come to a conclusion. it is now the president's turn. >> brian: it is a week since the president and speaker talked. i do not know at of this moment who called who. >> steve: we know no details. >> brian: it is good there is no details. i just talked to the president and he's not listening to me . i talked to the speaker and he dug in. that is a good sign. >> steve: keep in mind, the last offer on the table was made by the republicans. the republicans are waiting for a counter offer. the white house said that is not serious, we are waiting for a offer from the republicans. tim geithner was on cnbc yesterday and asked whether or not the federal government is preparing to go off the fiscal cliff in particular this administration. he answered unfortunately in the affirmative. here's tim. >> if republicans do not agree to that is the administration prepared to go over the fiscal cliff. >> we face no prospect of agreement that doesn't involve the rates going up on the top two per
rates are going to have to go up. >> house speaker john boehner appears to be struggling now that the president and democrats are negotiating for a position of power. talking points memo points out republicans are used to getting 70% to 75% of what they ask for in these types of negotiations but now speaker boehner is going on and on about how he's shocked and amazed at president's plan and is refusing to offer a counter plan on the republican side. you want to talk about this or anything else, join us online at current.com/stephaniemiller. we'll see you with more after the break. kind of guys who do like reverse mortgage commercials? those types are coming on to me all of the time now. >> she gets the comedians laughing... >> that's hilarious! >> ...and the thinkers, thinking. >> okay, so there is wiggle-room in the ten commandments, is what you're telling me. >> she's joy behar. >> and the best part is that current will let me say anything. >> what the hell were they thinking? >> only on current tv. brought to you by geico. 15 minutes could s
will -- [laughter] stuart: but the big story this hour is john boehner's counteroffer to the president, immediately dismissed by the way. it includes 800 billion dollars in tax revenue, not from higher tax rates. that is the sticking point. president obama wants those tax rates raised. john boehner, he wants fewer deductions, limits on deductions. that's the status quo right now of the discussion there. i want to bring you to the big board because we're going nowhere this tuesday morning on very low volume. back below 13,000. tuesday morning, here's the company: elizabeth macdonald is with us. david asman is with us. and nicole petallides right there on the floor of the new york stock exchange. china, cracking down on money transfers at wynn macau casinos. i guess that wynn stock is going to be down? nicole: you are right. we're seeing the stock down nearly 4% here. this is not good news for them overall. basically china's new leadership cracking down on fast money moving. they are going to set rules where you can't -- restrict the limits on how much money can actually be taken out of the country.
then? it was interesting this weekend to hear, for example, john boehner on with chris l wallace on fox news saying we're nowhere. shouldn't they counter with the president even if they think it's a ridiculous offer? >> if i'm advising the republicans, which i'm not, i'd over a republican plan that's progrowth, pro job creation, get rid of grover, and say this is what we're for, mr. president. here's the plan. i would say let's bargain in good faith. >> the sunday talk shows, geithner saying republicans need to deal with it, and others it's a stalemate. do you think that's for show though? it seems like the deals in washington, at this time of the year happen at the 11th hour, last three years especially for taxes. >> could have been for taxes, but,,and the but is very important, if there's a frame work december 31st at midnight, it will be just that. the markets will, i think, react predictly, and that's not positive. if there's a recession because there's not a tax plan, we'll be hurt. >> that's the wild card; right? how the markets reagent to it because we don't know. >> we don't. >>
-- negotiating paper, to put this in perspective what the government -- what the president sent to john boehner was more than he was asking for with debt negotiations. when the configuration in washington was to lead the same, what the senate was able to pass even when it had a filibuster, far in excess of what he campaigned on himself, something out of law land, where three weeks from the fiscal cliff, this is a serious -- almost a way to guarantee you put a stall on these negotiations or set them back ritter and understand what he is playing at. stuart: this is supposed to be just the first initial negotiating position. >> we don't have time. stuart: i had a democratic strategist earlier on the show who said don't worry about this. this is not a final result. this is not what they are trying for. just an opening gambit. what do you make of that? >> we have three weeks ago and they have wasted three weeks. john boehner offered a compromise and said you can have revenue. you asked for revenue, you asked it to come from the wealthy and we're giving it to you. let's talk about the form of what yo
will get nothing done. >> the question is whether john boehner is going to be able to get that vote of the tea party members of the house. so far, what i find disgusting, if the republicans could have made this deal six months ago because they were so cocky. they figured they were going to knock obama out, it was going to be a different world. right? so they went home and said we will wait for the election. and let the people decide. we will be in charge after this eriction. guess what. >> that's what they did. and they lost. >> exactly >> bill: they got busted. they lost their ass. so now, they refuse to recognize there was an election. right? they refuse to accept the results of the election. >> you are completely right. beyond that point, i don't think they need the 80 tea party members to vote with them. they just need a coalition >> bill: you know what they need? they need to schedule a vote. >> exactly. >> bill: that's what boehner has to do. >> that's what he won't do >> bill: there is no doubt in my mind if he scheduled a vote at this poi
. speaker of the house john boehner said today that he is still waiting for a counterproposal now from the president of the united states. and we learned late this afternoon that in fact speaker boehner and president obama had a phone call today. we don't know, however, what was said in that call. but reports are that some progress is being made in these negotiations. at least conversations continuing behind the scenes between the top leaders, larry. >> all right. a phone call. that's pretty good progress. many thanks. so let's just ask a couple questions here. does president obama have the whip hand in all these negotiations, and are the republicans about to be blamed big-time for falling off their own fiscal cliff? joining me now is ace pollster scott rasmussen. i just did a little tv gig with scott, who's in about 60 cities across the country. all right, scott. you heard timothy geithner. he said if they don't raise taxes on the rich, they were going to go over the fiscal cliff. but at the end of the day, if we do fall over the fiscal cliff, if taxes go december 31st, will the repub
'm afraid the politics will make it harder. >> his problem is for john boehner. his own party is split. we're seeing splinter groups coming out, senators, governors, congressmen, saying -- >> from both sides. i'm prepared to go for more taxes. not exactly. this is what interests me and may prolong the negotiations. there's a lot of people in the republican party, and the democratic party, particularly in the senate, who said $250,000 is not really a rich man. maybe a rich man in lincoln, nebraska. but it's not a rich man in new york city or los angeles. and therefore, the rates, the tax rates, which they want to go from 35% to 39.6%, maybe you're going to have to raise the threshold to $500,000, $600,000. maybe you're not going all the way to 39.6%. maybe you go to 37%. >> this is negotiation, isn't it? >> yes. >> i had newt gingrich last night. he almost shut down the government as the speaker, with bill clinton. but the second term, they did get stuff done. both of them used to them me, they used to throw everybody out of the room, and get it done. what worries me about the boehner/obama
for republicans? is that what he laid down on the table for speaker john boehner today? reid told me -- no, there was no specific offer here today from geithner to the republican side. he said that the president of the united states made the democrats' over two weeks ago and there's been no new specific offer since then. i think that explains a little bit of why we saw this reaction from speaker john boehner a little while after he met with geithner. take a listen to how boehner described today's events. >> despite the claims that the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. and secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> sue, on a lighter note, it looks like there are negotiations going on up here. i just saw a plate of lunch being brought in to the room where we believe that secretary geithner is sitting right now. we're also seeing some of the aides go in and out of that room as well. so clearly deals are being crafted here. i saw rob nabors,
meetings with john boehner. >> gretchen: it is annoying to see just a campaign. how many people are tired of a campaign speech. why not come to the table and figure it out. i don't understand it. >> steve: at this point, both sides know what they will give up. what their concessions will be. they don't want to go first. we are 33 days away from the official fiscal cliff and sailing off of it . in the washington post they describe a sense much gloom descending over the capitol, bowles meet and he sees one and three chance of an agreement before january. but mr. bowles had met with the president the day before and president had flexibility about that higher tax rate. he wants 39.6 percent. maybe he would take 36, seven,. >> brian: or raise the thres hold. >> gretchen: why would the president be in a negotiating position . he won reelection . >> steve: this is behind the scenes. >> brian: leverage we can go back to recession. you cannot blame george bush because he is in dallas. here is president obama yesterday and you heard from charles krauthammer. >> familis and small businesses can enjo
harry reid's office over to the speaker of house's office and meet with john boehner. and interestingly enough, he's going to meet with paul ryan. where that goes is also anybody's guess, but before that meeting, the speaker's office telling us they accepted the meeting only on the condition that the white house bring up some specific spending cuts and get serious about spending, i talked to senator lindsay gram, a republican, just before geithner walked into the building. he said he doesn't think there's that much asphalt on the road for reins to talk about tax increases at this point, he want f s to see some specific offers from the democrats. >> we'll be coming back to you not too long from now. >>> now to a big earnings mover in the luxury retail sales. brian, i read through your note that you issued this morning. you said still weak but not dismal. same store sales up 1%. inventories climbed 11%. this is not dismal, they are cutting the third year. >> as i look through the results today and there's no question on the face of them, they look really bad. tiffany did earnings per shar
. house speaker john boehner who has already offered to raise tax revenue finds himself not in a negotiation, but rather competing in the white house media campaign. this is how speaker boehner reacted earlier today to the demands of the white house that were laid out by timothy geithner in a closed-door meeting. the treasury secretary reiterating the president's call for $1.6 trillion in new tax revenue and timothy geithner rrently offering nothing in return. in lieu of federal pending. >> first, despite the claims that the presint supports a balanced approach, democrats have yet to et serious about real spending cuts. secondly, no progress has been made in the talk between the white house and house over the last few weeks. this is not a game. lou: press secretary jay carney doesn't understand what speaker boehner sid. jay carney said the president is open tideas as long as those ideas include a tax hike on the top 2% of the nations taxpayers. jay carney making it clear today thathe president will not budge on this position. >> the president will not sign any legislatio
. this afternoon, house speaker john boehner sketched out the g.o.p. proposal in a letter to the white house, and the proposal borrows suggestions from the president's own debt reduction commission, whose plan was ignored last year. the republican letter offered $900 billion in spending cuts from program reforms to medicare and social security. the g.o.p. plan would raise $800 billion in revenues by closing loop-holes and reforming the tax code, but stops short of specifics. noticeably missing: the higher taxes on high-wage earners which president obama has insisted on. the white house responded, saying "the g.o.p. proposal does not meet the test of balance. in fact, it actually promises to lower rates for the wealthy and sticks the middle class with the bill." it's not just the federal government under pressure. credit ratings agency fitch calls the fiscal cliff the biggest concern for state credit in 2013. saying, "any meaningful federal deficit reduction is likely to lower state funding, forcing program elimination or backfilling." as the tax hikes and spending cuts approach, u.s. manufac
criticized john boehner. john boehner should not be concerned about losing his job. he should be concerned about doing his job. his job is that of the american people. i do not want to get caught up in the sound bites. at least bring some kind of leverage, some kind of balance to this crisis. host: "in new york times" this morning -- guest: what does he have to negotiate? there are three options. you could allow the tax cuts to expire december 31. you can cancel some or all of the tax increases and spending. that would accelerate a dive back into a great recession or depression. in the first quarter, we would have very little difficulty in distinguishing ourselves from the crisis that is in gulf and europe and especially greece. the other thing we could do is come to a midline course of action where you could actually -- what can you minimally due to cut spending? what can you minimally due to have shared sacrifice so everyone is sacrificing something in this game? the other thing we don't talk about -- the interest rates on the deficit have been the lowest in 200 years. if we went back to
're never going to embrace that. >> but john boehner yesterday moved two tea party people off the budget committee. >> he better be careful because he could get fired very easily. >> i saw yesterday on twitter already there was a fire boehner -- >> he almost got fired last year. >> he's been on the bubble for some time now. although, i'm under the impression and reporting has suggested that the relationship between the two camps has gotten better. but clearly if you're eric cantor, why wouldn't you want to be speaker of the house? >> all right. >> all right. you guys are -- were you okay in the green room? nobody separated you two, did they? it was a civil? >> no, we get along. >> in the green room -- >> any bagels in there for you guys? >> no, we don't eat bagels. >> guys on monday got bagels. >> the bagels were there? >> it's all good. >> i judge what we think -- >> i'm jewish, when i walk into a room, i immediately know if there are bagels. >> did you get a tree? >> a holiday tree? >> yeah. >> you do? >> my wife says no, they're too messy. >> the christmas tree is the celebration of s
for john boehner to put forward the boehner plan. not the dobbs plan. the boehner plan. >> bill: specifically say this is what we have to cut? >> this is what we have to do. we have to raise the retirement age in this country. for social security. we have to raise the retirement age for medicare. we have to get serious as they did in 1993 under a democratic president, president bill clinton and say this is the target. $500 billion a year in reduced deficit. and we're going to get there. >> bill: 500 billion a year you would reduce. >> absolutely. >> bill: i would double that i would do a trillion. >> you can't quite get there i think you can get. >> bill: what if i sold rhode island then i could probably get that. [ laughter ] >> bill: chinese would buy it? >> is chafee still going to be government after you sell it. >> bill: who cares. >> he is damaged goods after you took care of him last night. >> bill: i'm trying for a trillion dollars to cut the debt every year. not the deficit. the debt. i'm trying to get enough money in here so that we can go from 16 to 15 to 14, you see?
with house speaker john boehner and minority leader nancy pelosi. >> the supreme court will look at what was passed in 2008 by a majority of six-three, i believe, and they will say that is precedent. indiana had a voter i.d. -- >> they decided on the indiana case, it was constitutional for them to establish id they did not say all of that was subsequently -- >> they talked about indiana. you misrepresented what i said. the supreme court is the law of the land. >> when i hear these accusations that black people voter i.d. loss disproportionately affect minorities -- implies to me that somehow we have something missing in our brain. as -- if white americans can get id to vote and go through all the processes to follow the laws, what are you telling black people? that somehow they are not good enough? that is what bothers me about a lot of the rhetoric coming from democrats and the left. we always have to make -- there has to be a special mass when we deal with minorities because they are too feeble minded. we really need to make concessions for them because they cannot follow the rules lik
at 10:00 a.m. and then with house republicans including speaker john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then house minority leader nancy pelosi. president obama is signaling he's flexible on on where tax rates should go for the wealthiest americans. a return to the clinton era tax rates would have households pay between 36% to 39%. the president met with a group of 14 ceos wednesday afternoon. they offered support for resolving the if i can crisis with a proposal for higher taxes for those who make more than a quarter million dollars a year. sdl bo >> both sides have acknowledged that there will be revenue concessions and sbilgtment cent concessio concessions. i'm not a master of the political art here, but i would say if you have these point of views in a business context as close as they are, i would say a deal would be in reach. >> ford chairman bill ford junior agrees with blankfein saying he's confident the obama administration can reach a deal with congress to avoid the fiscal cliff. but speaking with reporters in bangkok, he says the
'll eventually yield on raising tax rates on the wealthy, but john boehner is standing firm against those high taxes. >> we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because a small group of governors want to extend tax rates for 2% of americans. no reason why that should happen. >> geithner says republicans will be responsible if no budget deal is reached by the end of the month. boehner says the fight has only begun and he's interested in cutting a deal and not sounding a fiscal alarm. we'll be talking about how the two sides might be able to break the deadlock with a did democratic strategist in the next half hour or so. now, singapore airlines has confirmed it's in talks with interested parties to try to divest its 49% stake in the british airline virgin atlantic. didn't say who the party was, but reporting suggest it could be the u.s. carrier delta air lines. it's been look to go acquire the
. australia, investors shrugged off strong jobs data. sensex gained 0.6% today. >> john boehner and president obama speaking by phone, but no announcement of any upcoming face to face budget talks. earlier the president told the business round table that a deal to avoid the fiscal cliff could be reached quickly if republicans drop their opposition to raising tax rates on the wealthy. and in an interview on cnbc, timothy geithner says the gop is making a little bit of practice, but the white house is absolutely ready to go over the cliff if tax rates on the top 2% don't rise. >> our obligation is first do no harl. we need to lift that threat over the economy. and now as part of that, we'd like to put in place as i said a carefully designed mix of reforms to put our fiscal balance in the path of sustainability. as long as there is recognition by the other side that those rates will go up, we think we can reach an agreement on the set of reforms as i said that will be good for the economy. >> republicans were quick to hit back. orrin hatch called them stunning and irresponsible, but there may be
view what makes sense for the country. >> meantime john boehner says that his party has a plan and he has already offered dozens of alternatives. >> you can cap deductions at a percent of income, that would be one way to get there. could you eliminate certain deductions for those wealthiest in our country. >> joining us on the topic is david walker. he's on his way here right now. >> and in global market news, a lot of talk about china this morning. a final reading of hsbc's manufacturing purchasing manager's survey for china rising in november, first time above the key 50 mark which indicates expanding rather than contraction. it's been since october of last year. also abroad greece announcing it will buy back bonds through a dutch auction. the set up whether allow athenss to assess the level of demand before setting a final bryce for the deal. part of the country's efforts to cut its about a along debt. and in germany, merkel is not ruling out the possibility of notifying greece some of its debt once athens finances are in better shape. angela merkel told a german tabloid that the q
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